Key Factors to Consider Before Buying a Property in Bangalore

Bengaluru - the silicon valley of India which was earlier known as Bangalore - is so far the only cosmopolitan in India. Bangalore being the IT hub of India, has become the home for IT professionals from across the globe. This is one reason buying a property in the city is quite difficult and expensive. However, once the task - owning a property in Bangalore is done, the investment turns into one of the major asset of the investor. Thus, when it comes to buying a property there, it becomes important to plan things meticulously in advance.

A lot many people know it, but some are still unaware of this fact stated above. So, for them, below are some factors one should consider before buying a property in Bangalore. 

1. Builder’s reputation: Real Estate property is highly unregulated. Though the introduction of RERA has helped a bit, but Indians are good with loopholes and thus the risk with buying property still remains. Hence, whenever you plan to buy a property in Bangalore, make sure to gauge the credibility of the property builder or agent.

The best way to check that is by asking them for their RERA certification. Projects like Tata Value Homes, Tata New Haven, or Skylark Dasos are the properties which are RERA approved. You must be aware with their status.

2. Project location: Properties located centrally yield higher ROI compared to properties located on the outskirts of a city. Hence, pay special attention to the location of your property.

3. Legality: Zero legal problems associated with the property you plan to purchase simply means a peaceful life after the transaction is complete. Thus, hire a lawyer or legal professional to conduct a general survey to ensure the property is legally sound for purchase.

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Additional Read: Enjoy Living Luxury Life By Investing In Ahmedabad Property

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3 Things to Consider While Buying a Flat in Bangalore

Given the fact PMAY housing scheme is valid till the end of this financial year, most people would be planning to buy a house in the next few months. If that’s true even in your case, below are some of the facts you must keep in mind before buying a property in Bangalore. 

1. Location of the house: Would decide the kind of returns you can expect from your investment in real-estate. The closer your house is to the center of your state’s capital city, property value appreciation rate is higher. 

Thus, pay proper attention to the location of your property while buying a flat in Bangalore. For instance, properties such as the Sobha Lake Garden is situated at a prime location, well connected with these modes of transport.

   

2. Dealer’s credibility: After the RERA act, no property dealer can sell a property without RERA registration. The dealer has to be registered and even the property needs to be RERA-verified. If you end up buying a property which is not RERA-verified, you might have a hard time getting approved for a home loan. Thus, gauge the credibility of your builder before buying a flat from them. 

3. Rate of returns and amenities: Last but not least, assuming your purpose of buying a flat in Bangalore is to sell it off later and earn a high ROI, you must ensure the property is available with value added amenities. These value added amenities will supplement your property’s resale value.

Additional Read: Five Things to Check When Buying a House in Bangalore

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